Pickering Pacific is delighted to announce that it acted as exclusive financial advisor to Aliaxis, a global leader in plastic piping systems, on the divestment of its operations in Southeast Asia to LESSO Group.
The transaction was signed on 21 September 2020 and “is expected to close in Singapore in October 2020 and a few months later in Malaysia as it is subject to customary closing conditions, including appropriate regulatory approvals”.
Aliaxis is a global leader in the manufacturing and distribution of advanced plastic piping systems. With a global workforce of about 15,500 employees, it operates in over 40 countries and recorded revenue of over EUR 3 billion in 2019. The company is privately owned, with its global headquarters in Brussels, Belgium. This divestment is in line with Aliaxis’ strategy to focus on core growth markets and opportunities.
LESSO Group is a leading plastic pipe manufacturer in China. It is listed in Hong Kong and recorded revenue of USD 3.8 billion in 2019.
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